MoonPay targets $8.7B trading venue, but the features remain unrevealed

MoonPay has signed a definitive agreement to buy North Capital Investment Technology, a deal that would bring an existing private-securities trading venue into the crypto payments company's group if it closes.The companies announced the agreement on Sept. 23, and said both boards had approved it. Regulatory approvals and other closing conditions still stand between the agreement and a completed acquisition.For MoonPay customers, the announcement changes nothing about stated access to private-securities trading. It gives no launch date, eligibility rules, or path into the venue.The question for customers is whether MoonPay will eventually offer access to North Capital, and under what terms.What the MoonPay deal would bringNorth Capital supplies technology and regulated services to private securities issuers, professional intermediaries, fund managers and investors. Its business spans investor onboarding, transaction processing, custody and secondary trading.The subsidiary North Capital Private Securities Corporation is a registered broker-dealer and, according to the company's announcement, operates PPEX, an alternative trading system where eligible securities can trade outside a tr...